Swiss National Bank Has $165.44 Million Stake in Phillips 66 (NYSE:PSX)

Swiss National Bank decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 0.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,258,550 shares of the oil and gas company’s stock after selling 8,200 shares during the quarter. Swiss National Bank owned approximately 0.30% of Phillips 66 worth $165,436,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PSX. Crewe Advisors LLC acquired a new position in Phillips 66 during the first quarter worth $25,000. Strategic Financial Concepts LLC acquired a new position in Phillips 66 during the second quarter worth $26,000. nVerses Capital LLC acquired a new position in Phillips 66 during the third quarter worth $26,000. Values First Advisors Inc. acquired a new position in Phillips 66 during the third quarter worth $30,000. Finally, Bank & Trust Co acquired a new position in Phillips 66 during the second quarter worth $31,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of recent analyst reports. Mizuho cut their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company cut their price target on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Bank of America initiated coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. JPMorgan Chase & Co. cut their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, TD Cowen cut their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $130.91 on Monday. Phillips 66 has a twelve month low of $111.90 and a twelve month high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a 50-day simple moving average of $129.75 and a two-hundred day simple moving average of $135.73. The stock has a market capitalization of $54.06 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 4.29 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the previous year, the company earned $4.63 EPS. The business’s revenue was down 10.3% on a year-over-year basis. Analysts forecast that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is presently 59.05%.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.